0/ We are hearing a lot about ETH treasury strategies. Let's talk about what that actually means and what's going on...
ETH-treasury firms = public cos that raise $, buy ETH, stake it for ~3% yield. Think MicroStrategy, but with productive, deflationary ETH.
1/ Why ETH?
1️⃣ Staking yield 3-5 %.
2️⃣ Burn offsets issuance (EIP-1559).
3️⃣ GAAP now marks crypto at fair value.
4️⃣ ETH is top DeFi collateral.
2/ Playbook: raise via ATM/PIPE, buy ETH OTC, stake (solo, Lido, RocketPool, custodian), hype in PR, recycle staking rewards or borrow vs ETH to repeat.
3/ Risks: price swings, validator slashing, SEC “investment company” rules, 7-day unstake lag vs OTC liquidity.
4/ Leaderboard (Jul ’25): SharpLink (SBET) 285k ETH (99 % staked); BitMine (BMNR) 163k; BitDigital (BTBT) 101k; BTCS 29 k. Total: 600k ETH.
5/ Yield use: most compound rewards into more ETH. Some borrow stables vs stETH to lever working capital.
6/ Scale: S&P 500 cash ≈ $22tb. Shifting 1 % into ETH = 65mn ETH (> 50% supply). Today’s treasuries hold <0.5 % of that.
7/ Watch points: dilution math, staking provider choice, how boards vote ETH governance, and potential L2 restaking plays.
8/ Expect more miners, SaaS shops, even biotech firms to copy the model as ETH accounting + yield beat idle cash.
9/ Send this to any CFO still calling ETH “magic internet money” 🔮
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